Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 1: Who is the offeree in this contract ?
Options:
A) Musa
B) Audu
C) Adamu
D) Jacob
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The correct answer is C .
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Question 2: In the permanent storage device, DASD means
Options:
A) Data Access Systems Device
B) Direct Access Systems Device
C) Data Access Storage Device
D) Direct Access Storage Device
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The correct answer is C .
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Question 3: A financial institution which uses its capital strength to acquire controlling interests in other firms can be regarded as a?
Options:
A) subsidiary company
B) holding company
C) trusth
D) cartel
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The correct answer is B .
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Question 4: An advantage of hire purchase to the consumer is the?
Options:
A) economies of scale in production
B) possession of goods before payment
C) increase in turnover and profit
D) low interest rate chargeable
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The correct answer is B .
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Question 5:
Sea vessels that do not operate on regular times and routes are
Options:
A) tramps
B) ocean liners
C) container ships
D) ferries
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The correct answer is B .
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Question 6:
A chamber of commerce is an association made up of?
Options:
A) merchants
B) manufacturers
C) entrepreneurs
D) importers
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The correct answer is C .
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Question 7: Ships that sail across the ocean and operate on scheduled time tables are?
Options:
A) ferries
B) ocean liners
C) tramp steamers
D) coastal liners
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The correct answer is B .
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Question 8: A business organization can obtain long term financing through
Options:
A) bank overdraft
B) the sale of shares
C) credit purchases
D) bureau de change
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The correct answer is B .
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Question 9: A distinctive advantage of GSM is its?
Options:
A) mobility
B) cost
C) stability
D) coverage
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The correct answer is A .
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Question 10: If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover.
Options:
A) N199,400
B) N198,400
C) N100,200
D) N99,200
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The correct answer is B .